12-02-2020 Workshop Packet - Laserfiche WebLink

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STAFF REPORT TO: Mayor Keis and Members of City Council FROM: Chris Heineman, City Administrator Brenda Malinowski, Finance Director DATE: December 2, 2020 RE: Workshop discussion on 2021 Final Levy and Budget DISCUSSION: The Council is asked to give direction regarding the final levy and budget that will be adopted December 16, 2020. BACKGROUND: The City of Little Canada established a preliminary levy on September 23rd. The levy may be decreased before final adoption in December, but may not be increased before final adoption. Based on the preliminary levy set by the City of Little Canada and other taxing jurisdictions in Ramsey County, proposed property tax notices were mailed by the County in November. The 2021 Preliminary Budget and Levy was adopted by the City Council on September 23. The preliminary levy was set at $3,600,146 representing a 3.48% increase over the 2020 adopted levy. Some of the primary drivers include an increase of $76,430 to the Ramsey County Sheriff’s Department annual police service contract, $26,722 for market adjustments and changes in health insurance for personnel, and the transition of the election services to Ramsey County. Please click here for a link to the 2021 Preliminary Budget. Taxable Values: Since the Preliminary Levy was adopted in September, the County has updated the taxable valuation numbers, which has had a positive impact on our taxable valuation. Taxable valuation changes combined with an increase in the fiscal disparities distribution will drop the preliminary tax rate from 24.137 to 24.066 (.29%). Taxable Valuation 2021 Preliminary Valuations 2021 Valuations- November $ Increase (Decrease) Real Estate $15,506,834 $15,507,043 Personal Property 225,343 227,981 Subtotal 15,732,177 15,735,024 Fiscal Disparities Contribution (2,053,908) (2,053,908) Tax Increment (723,441) (719,669) Taxable Valuation $12,954,828 $12,961,458 $6,630